Wednesday, December 18, 2013

Home sales in the Portland Area have cooled slightly for the
winter, but for the year have rebounded with a 16% rise in the number of homes
sold, reduced market times to sell by more than 25%, and a 13.5% increase in
the average sales price of a home. These are high marks, and Portland is
ranking very well among turnaround cities. Nationally, home prices have
risen about 10% this year.

What’s Ahead

Through the past year, a sense of urgency drove home buyers
taking advantage of still-affordable home prices and historically low mortgage
rates. These home buyers were faced with a limited supply of homes for
sale, and were often forced into bidding with investors and other buyers who
paid with cash. “Cash” buyers represented almost a third of home sales in
2013! Sellers were rewarded with quick sales, often above their asking
prices. Market reports that I follow seem to agree that home prices will
rise in 2014, but at a slower, more steady pace between 3% to 5%. An
interesting find reported by Kiplinger Business Forecasts says the percentage
of consumers who intend to buy a home in the next six months is the highest
since the year 2000. Adding to this push is a pent-up demand among
younger adults paying premium rents. Can you believe studio and
one-bedroom apartments located in the various hipster Portland neighborhoods
run between $1,250 - $1,500 a month (some even higher)?

How are homes selling in your neighborhood? Well, over
the past year Portland’s leading area was inner-SE with an impressive 16.2%
increase in the average price of a home. A close runner up was North
Portland with a 15% increase, followed by the inner-NE neighborhoods at
13.2%. Area’s on the Westside including Beaverton and Aloha that had a
larger share of distressed bank-owned and short-sale properties beat Portland’s
best with a 17.8% average price increase.

Mortgage interest rates are about 4.5% and projected to be
closer to 5% in 2014.

Hope your holidays are wonderful. Stay warm, but get
outside and have some fun!

Please call me when it’s time to buy or sell a home.
I’ll work hard for you.

Monday, November 18, 2013

Don’t be fooled, the holiday season and wet winter months
are often considered the worst time of year to buy or sell a home. In
reality, these distraction-packed months – November to February – carry
benefits for determined buyers and sellers.

The good news continues as we head into the holiday
season. Portland’s real estate market rebounded this year with an 18%
rise in the number of homes sold, reduced market times to sell by almost 40%,
and a 14% increase in the average sales price of a home. These are high
marks, and Portland is ranking very well among turnaround cities.
Nationally, home prices have risen about 10% this year.

What can we expect in the next few months? Rain.
Certainly, but also a great time for determined home buyers and sellers.
Here are some things to think about:

A
seller listing their home for sale in the wet winter months is committed to
selling. They understand what they’re up against, and have decided to go
for it in what is traditionally a stronger buyer’s market. Buyer’s who
brave the wet winter months are also committed to their task. These
buyer’s typically “need” to find a new home.

A buyer could join the “herd” of buyers who are active during the traditional
“good weather” months – and this competition for properties can mean buyers pay
more, lose out on good-value listings, and receive less attention from swamped
real estate agents and mortgage help.

Buying
a home in the wet winter months can tell you a lot about what to expect from a
property. Visit a house during a hard rain and you’ll see for
yourself. Drive by houses after a fresh snowfall and discover which are
well insulated (snow on roof) and which are losing costly heat (no snow on
roof). Tour a house on a very windy day and discover how drafty those old
windows and doors can be. Or spend some time in a house on a cold day and
study how well it heats up everywhere, or not.

Almost everywhere, home sales through the year have been
their best since 2006. Lawrence Yun, Chief Economist for the National
Association of Realtors has said a multiyear housing recovery is also
likely. “Steady job creation and household formation have been helping to
unleash a pent-up demand in the housing market,” he said. “A continued
housing shortage will prime home prices even higher, by as much as an
additional 13 percent in 2014.”

Mortgage interest rates are between 4.25% – 4.5%.

Hope your holidays are fantastic!

Please call me when it’s time to buy or sell a home.
I’ll work hard for you.

Tuesday, September 17, 2013

Home sales this past summer were at their best for Portland
since 2006. The average price of a Portland home rose slightly more than
14% this year, and the number of homes sold increased 44% from when the market
bottomed out in 2010.

Portland’s
real estate market cooled slightly in August as people were likely pursuing
other summer adventures. Home sales through the year however have been
their best since 2006. Lawarance Yun, chief economist for the National
Association of Realtors has said a multiyear housing recovery is also
likely. “Steady job creation and household formation have been helping to
unleash a pent-up demand in the housing market,” he said. “A continued
housing shortage will prime home prices even higher, buy as much as an additional
13 percent in 2014.”

Investment
home sales in Portland also jumped to elevated levels in 2012 and are holding
up this year. I have one duplex listing in NE Portland that has so far
received 6 offers, a few of which came from California cash buyers. Many
California metros are ranking at the top for turnaround cities which has
historically had a strong influence on overall housing trends.

How
are things selling in your neighborhood?

Close-in
neighborhoods in NE and SE Portland continue to be hot zones with houses
selling quickly and often with multiple offers. These areas have
experienced the greatest share of home sales in price increases above 15%.

Area’s
in SW and NW Portland, Beaverton, Aloha and Hillsboro are also selling
quickly. These areas have had a larger share of distressed bank-owned and
short-sale properties selling at lower prices. Average prices have risen
between 9% - 14% with Lake Oswego, West Linn and Beaverton leading the bunch.

Area’s
outside of Portland including Gresham, Troutdale, Oregon City and Milwaukie are
seeing prices rise between 9% - 10%.

Mortgage
interest rates are between 4.5% - 5%.

Hope
your summer was fantastic! September and October are also great months to
enjoy the outdoors. Make it a great adventure…

Please
call me when it’s time to buy or sell a home. I’ll work hard for you.

Tuesday, August 20, 2013

It has been sunny indeed for real estate in the Portland
metro area. The most compelling news remains with a 14% rise in the
average sales price of a Portland home this year. The number of Portland
homes sold has also increased 40% from when the market bottomed-out in 2010.

The housing market in Portland is accelerating faster than
most other major cities. Portland ranks No. 8 of “turnaround cities”
according to the Oregonian. Nationally, home prices have risen 10% this
year. Many California metros are ranking at the top which has
historically had a strong influence on overall housing trends. Home
buyers have returned to the market with determination, which combined with very
few homes for sale, has put an upward pressure on home prices.

This graph displays the rise and fall in home prices between
2004 and today. The average sales price of a Portland home is currently
28% higher than it was in 2004, and takes into account the fallout in pricing
between 2007-2012. This is great news for long-term homeowners and
testimony to the rewards of home ownership over the years. An average
priced home of $255,000 in 2004 would be worth about $327,000 today!

Close-in neighborhoods in NE and SE Portland continue to be
hot zones with houses selling quickly and often with multiple offers.
These areas have experienced the greatest share of home sales and price
increases of almost 15%.

Area’s in SW and NW Portland, Beaverton, Aloha and Hillsboro
are also selling quickly. These areas have had a larger share of
distressed bank-owned and short-sale properties selling at lower prices.
Average prices have risen between 12% - 13%.

Area’s outside of Portland including Gresham, Troutdale,
Oregon City and Milwaukie are also seeing prices rise between 8% - 9%.

Interest rates are about 4.5%.

Please call me when it’s time to buy or sell a home.
I’ll work hard for you.

Friday, July 19, 2013

June brought us slightly cooler temperatures in the real
estate market for Portland. However, through the year home sales are up
17% from 2012 and the average price of a Portland house up 14%! The
slight cooling is positive news as the market was moving too fast to sustain a
healthy position. There is currently 2.9 months of unsold inventory in
the Portland Metro Area – a slight increase from last month.

The most compelling news remains with a 14% rise in the
average and median sales price of a Portland home this year. This
increase compares to a low-point in home prices last year, though represents a
solid rebound from the end of the housing market downturn. Home buyers
have returned to the market with confidence and determination, which combined
with very few homes for sale, has put an upward pressure on home prices. This
could be the right time to sell your house if you’ve been waiting to sell it
quickly at a better price.

This graph displays the rise and fall in home prices between
2004 and today. The average sales price of a Portland home is currently
35% higher than it was in 2004, and takes into account the fallout in pricing
between 2007-2012. This is great news for long-term homeowners and
testimony to the rewards of home ownership over the years. An average
priced home of $235,000 in 2004 would be worth about $315,000 today. It’s
hard to save that kind of money otherwise!

Close-in neighborhoods within North, Northeast, and
Southeast Portland continue to be hot zones with houses selling quickly and
often with multiple offers. Inner-SE and NE Portland have experienced the
greatest share of homes sales and price increases.

Southwest and Northwest Portland, Beaverton, Aloha, and
Hillsboro are also selling quickly. These areas have held a larger share
of the distressed bank-owned and short-sale properties selling at lower
prices.

Area’s more rural East and Southeast of Portland like
Gresham, Troutdale, Oregon City, and Milwaukie are also seeing prices rise
between 6%-8%.

Interest Rates rose this past month to about 4.5%.

Please call me if it’s time to buy or sell a home.
I’ll work hard for you.

Wednesday, June 19, 2013

Portland’s real estate market is on fire. This is no
hype… The price of a home continues to rise while the inventory of homes
for sale remains at historic lows. There is just 2.5 months of unsold
inventory in the Portland Metro Area. If you’re looking to buy in
close-in neighborhoods of SE or NE Portland, expect to compete with multiple
offers.

The most compelling news is a 15% rise in the average and
median sales price of a Portland home this year. This increase compares
to a low-point in home prices last year, though represents a solid rebound from
the end of the housing market downturn. Home buyers have returned to the
market with confidence and determination, which combined with very few homes for
sale, has put an upward pressure on home prices. This could be the
right time to sell your house if you've been waiting to sell it quickly at a
better price.

This graph displays the rise and fall in home prices between
2004 and today. The average sales price of a Portland home is currently
35% higher than it was in 2004, and takes into account the fallout in pricing
between 2007-2012. This is great news for long-term homeowners and
testimony to the rewards of home ownership over the years. An average
priced home of $235,000 in 2004 would be worth over $315,000 today. It’s
hard to save that kind of money
otherwise!

Close-in neighborhoods within North, Northeast, and
Southeast Portland continue to be hot zones with houses selling quickly and
often with multiple offers. Inner-SE and NE Portland have experienced the
greatest share of home sales and price increases.

Southwest and Northwest Portland, Beaverton, Aloha, and
Hillsboro are also selling quickly. These areas have held a larger share
of the distressed bank-owned and short-sale properties selling at lower
prices.

Area’s more rural East and Southeast of Portland like
Gresham, Troutdale, Oregon City, and Milwaukie are also seeing prices rise
between 6%-8%.

Interest Rates are about 4%.

Please call me if it’s time to buy or sell a home.
I’ll work hard for you.

The most compelling news is a 15.3% rise in the average
sales price of a Portland home this year. This increase compares to a
low-point in home prices last year, though represents a solid rebound from what
may be the end of the housing market downturn. Home buyers have returned
to the market with confidence and determination, which combined with very few
homes for sale, has put an upward pressure on home prices. This
could be the right time to sell your house.

This graph displays the rise and fall in home prices between
2004 and today. The average sales price of a Portland home is currently
30% higher than it was in 2004, and takes into account the fallout in pricing
between 2007-2012. This is great news for long-term homeowners and
testimony to the rewards of home ownership over the years. An average
priced home of $235,000 in 2004 would be worth over $302,000 today. It’s
hard to save that kind of money
otherwise!

Close-in neighborhoods within North, Northeast, and
Southeast Portland continue to be hot zones with houses selling quickly and
often with multiple offers. Inner-SE and NE Portland have experienced the
greatest share of price increases.

Southwest and Northwest Portland, Beaverton, Aloha, and
Hillsboro are also selling quickly. These areas have held a larger share
of the distressed bank-owned and short-sale properties selling at lower
prices.

Area’s more rural East and Southeast of Portland like
Gresham, Troutdale, Oregon City, and Milwaukie are selling at a slower pace but
increased in price by 3-5% this past year.

Interest Rates are still under 4%.

Please call me if it’s time to buy or sell a home.
I’ll work hard for you.

Darin
Provost, Broker

Vintage Real
Estate

503-784-7626

And call Steven Welch with Northwest Mortgage Group at
503-805-6810 if you think it’s time to refinance or buy. You’ll be very
happy with Steven’s experience and commitment to serving his clients.

Home sales peaked again in March, representing the best
spring market since 2007. The number of active homes for sale also
continues at historic lows with just 3.2 months of unsold inventory in the
Portland Metro Area. This market dynamic has put an upward pressure
on home prices, influenced home buyers to be more decisive, and has given quite
an edge to homeowners looking to sell.

Portland-area home prices are beginning to rebound after
falling by more than 30% during the housing crash. The average sales
price of a house in Portland is approximately $290,000 - an increase of just
over 15% from the first quarter of last year. The median price of a
Portland house is about $247,000 – an increase of almost 17%! The median
value represents a mid-point with an equal number of houses priced above and
below this number.

Close-in neighborhoods within North, Northeast, and
Southeast Portland are hot zones with houses selling quickly and often with
multiple offers. Inner-SE and NE Portland have experienced the greatest
share of price increases.

Southwest and Northwest Portland, Beaverton, Aloha, and
Hillsboro are also selling quickly. These areas have held a larger share
of the distressed bank-owned and short-sale properties selling at lower
prices.

Area’s more rural East and Southeast of Portland like
Gresham, Troutdale, Oregon City, and Milwaukie are selling at a slower pace but
increased in price by 3-5% this past year.

Interest Rates are still under 4%.

Please call me if it’s time to buy or sell a home.
I’ll work hard for you.

Darin Provost,
Broker

Vintage Real
Estate

503-784-7626

And call Steven Welch with Northwest Mortgage Group at
503-805-6810 if you think it’s time to refinance or buy. You’ll be very
happy with Steven’s experience and commitment to serving his clients.

The number of homes sold in February had peaked again,
representing the best February since 2008. The number of active homes for
sale also continues at historic lows with just 4.5 months of unsold inventory
in the Portland Metro Area. This low inventory has been challenging
for home buyers having to compete for homes, but overall is positive news for
Portland’s real estate market as buyers have become more decisive, home sellers
can SELL their houses, and home prices have risen given the competing market.

The average sales price of a house in Portland is
approximately $282,000 - an increase of almost 6% over the past year. The
median price of a Portland house is about $255,000 – an increase of 8.5%!
The median value represents a mid-point with an equal number of houses priced
above and below this number.

Close-in neighborhoods within North, Northeast, and
Southeast Portland are hot zones with houses selling quickly and often with
multiple offers.

Southwest and Northwest Portland, Beaverton, Aloha, and
Hillsboro are also selling quickly. These areas have held a larger share
of the distressed bank-owned and short-sale properties selling at lower
prices.

Area’s more rural East and Southeast of Portland like
Gresham, Troutdale, Oregon City, and Milwaukie are selling at a slower pace but
increased in price by 3-5% this past year.

Interest Rates are still under 4%. These affordable
rates won’t last forever, but will be remembered for a long time.

Please call me if it’s time to buy or sell a home. I’ll
work hard for you.

Darin
Provost, Broker

Vintage Real
Estate

503-784-7626

And call Steven Welch with Northwest Mortgage Group at
503-805-6810 if you think it’s time to refinance or buy.

Saturday, February 16, 2013

Portland’s winter weather this year has been mild, keeping
the real estate market active. There is much talk about the “tight” inventory
of homes for sale, rising home values, and homes that are located-well selling
quickly.

There is currently 4.7 months of inventory for sale - about
6,400 homes in the Portland Metro Area. This is positive news as the
number of homes For Sale is at historic lows and convincing home buyers to be
decisive. This could be the right time to sell your home.

The average sales price of a home in Portland is currently
$288,000 - an increase of 5.4% over the past year. The median price of a
Portland home is $248,000 – an increase of 7.3%! The median value
represents a mid-point with an equal number of homes priced above and below
this number.

Be sure to look at the Average
and Median Sale Price Graph on page 5 of the link. This
graph displays the rise and fall in home prices between 2004 and today.
The average sale price of a Portland home is currently 30% higher than it was
in 2004, and this takes into account the fallout in pricing between
2007-2012. This is great news for long-term homeowners and testimony to
the rewards of home ownership over the years. A $200,000 home bought in
2004 could be worth $260,000 today based on this average sale price
increase. It’s hard to save that kind of money
otherwise!

Interest Rates are still under 4%. These affordable
rates won’t last forever, but will be remembered for a long time.

Please call me if it’s time to buy or sell a home.
I’ll work hard for you.

Friday, February 15, 2013

When
I decided to downsize, Darin helped me to accomplish what seemed impossible in
a slow market; my house was sold and I was in an adorable new home in under
three months!

--
Elizabeth Bird

I
have never had a Real-estate agent work as hard as Darin did to find the
perfect house for me. Not only did I get a "Larry house", I found
Darin to be a very honest person with a great deal of passion for his work… and after a few trips
to Starbucks with him I discovered Darin also had a passion for Breve Latte's
that matched my own! -- Larry Ginn

Darin helped me purchase my first
home in Portland. At that time it was a seller's market and he watched
out for me to make sure I got what I needed. Later when I was
getting ready to purchase another home, there was no question about who I
wanted to represent me. Darin is a professional expert when it comes to
real estate. I highly recommend him. When I get ready to buy
another home, Darin will be my realtor! -- Jim Baker

Sure and prompt sales in a good market are common; Darin's
combination of professionalism, affability, and strong work ethic promptly sold
my property in a challenging, soft market at a return I was quite pleased
with. Moreover, too many brokers and companies expend more energy
promoting themselves as much or more than the properties they sell . . . not
the case with Darin and Hasson Realtors -- they marketed my property
with a comprehensive and detailed knowledge, assuring potential buyers their
questions were answered clear and certain. -- Phil Smith

My husband and I felt extremely
lucky to have found Darin as our realtor. He went beyond all our
expectations and surprised us with a high degree of commitment, attention
to detail and personal dedication. Our deal went through so
smoothly that it left us with a great sense of closure. -- Brian & Noemie
Young-Studer

Having bought and sold real estate
in Alaska, Oregon, California, and Nevada over the last 27 years, I have dealt
with many agents and brokers, but Darin has been the best of all. From
the first day I spoke to Darin he was professional, knowledgeable, helpful, and
his advice helped me greatly. Darin tells the truth and his opinions are
sound. He was always there when I needed him. But the best thing
about Darin is that he became a friend. -- Jeff & Ellen Fancy

We worked with several Realtors
before meeting Darin and he was hands down the BEST! We live out-of-state and
purchased a property in Oregon. Darin led us smoothly through the transaction
and we were able to close in less than 30 days. Darin is very
knowledgeable, he has great communication skills and most of all he is honest
and reliable. We'll definitely use him again for future purchases and we
would refer him to anyone without hesitation. -- Jason & Joyce Dahners

You did a great job for me and went
out of your way to help my property sell. You were available every step
of the way to answer any questions or accommodate any requests, and you even
helped paint and clean my condo up to make it more attractive! I would
recommend you to anyone who is looking to buy or sell a property.
Feel free to use me as a reference any time.-- Mike Fazzolari

Our realtor Darin was an angel in a
very sad time as we were in need of speed to find and move our daughter. Well,
he helped in so many ways, was so kind. He is on the ball at every turn
--thinks of things only he would know of. We felt very blessed to know this
young man and to have his help. If and when we sell that property he will be
the man for us. I would be happy to spread the word for him, he will
treat you as if you were his family -- Mel
and Lynda Chaufty

Monday, January 28, 2013

I must have been the smartest man alive to start a business
in real estate 8 years ago. (I say in jest.) My career started off
with a bang. Back in 2004 and 2005 Portland home values rose just over 35
percent! Every home listed sold within a month. Buyer’s kept my
phone ringing so much I wore one of those silly blue blinking ear devises as I
darted through the office, restaurants, the gym, and even outside on my
mountain bike or in route to kayak. How comical in hindsight. Where
is that ear-piece now?

Well, at everyone’s surprise things changed quickly in 2006
as the media drew massive attention to the bursting of the housing
bubble. This attention helped put a panic in the market as buyers drew
weary and it seemed “everyone” wanted to put their house up For Sale with hopes
of cashing out big returns. Below is my brief highlight of the changes
experienced in the years after 2004-05 I’ll call the “7-year Itch”:

2006 – The media’s relentless attack on the housing market
crash…a national phenomenon. Home buying slowed substantially as
consumers drew weary of things to come. The inventory of homes For Sale
grew substantially as home owners and property investors tried to cash out with
inflated home prices. It was growing clear to everyone that home prices
were too high. Portland’s housing bubble began to deflate... notably a
year after other US cities.

2007 – A continued rise in the number of over-priced homes
placed up for sale. Property investors disappeared and traditional home
buyers drew increasingly wearing of pricing. I believe at this time there
was still denial by home sellers and people working in the industry that this
draw-down would continue.

2008 – The inventory of homes placed up for sale peaked at
over 18,000 homes in the Portland Metro area. This was 3 times the
inventory of homes For Sale back in 2004-05, and it seemed everything was
overpriced. The few home buyers that remained wanted to see 40 – 60 homes
before making a decision. I ditched the ear-piece! Home buying was
down over 60%. A real fun time to be a real estate broker… I had
doubts of being the smartest man alive.

2009 – Home buying bottomed out. Portland experienced
a very cold and snowy winter that helped put the brakes on home buying. On
the bright side, the volume of homes placed up For Sale declined. On the
downside, this inventory was largely made up of distressed homes for sale at
reduced prices (i.e. short-sales and foreclosures). Homes sold at BIG
discounts from original inflated asking prices.

2010 – Portland’s housing market was bloated with inventory
including distressed homes. Home sales were flat in all price
ranges. Home values continued to decline.

2011 – Home values bottomed out in the winter of
2011-12. Home values were back to median prices in 2004 with all of the
housing bubble gains disappeared - a loss of over 40% in home values. On
the bright side - the inventory of homes For Sale declined rapidly including
distressed properties. This tightening of supply combined with a rise in
consumer confidence started a new trend for Portland’s housing market.
Property investors returned to the market with cash purchases buying at
bottomed out prices.

2012 – Consumer confidence and interest in home buying
continued to rise. This was coupled with a rapid decline in inventory of
homes For Sale. The media remained positive on the future of the housing
market and buyers began to compete for homes in popular neighborhoods with
multiple offers. Portland’s home prices rose 6.3% in median values, and
4.4% in average values. It became apparent to many economists the housing decline had bottomed out in 2010-11. The stock market boomed and personal
wealth began to rise after a 7 year decline.

2013 – Forecast remains positive for the housing market in
Portland and abroad. The number of homes For Sale will be at an all time
low with a declining inventory of distressed properties that had plagued the
market. Consumer confidence shows improvements with increased buying in
most consumer goods and services. Economic indicators including Job
reports continue to improve. Interest rates remain incredibly low.
An increased interest in home ownership and tight inventory of homes for sale
is projected to raise home values further in 2013.

What a cycle it’s been. A test of endurance and
lessons learned for everyone. It really appears things are on the up-tick
and to everyone’s amazement a marathon cycle that lead from excitement, to
confusion, worry, denial, acceptance, and a cautious sigh of relief.

I appreciate the business you’ve brought me and
relationships made running this marathon. Please stay in touch and keep
me in mind when it comes time to move…again.

Darin

503-784-7626

I also have a lender you can trust. His name is
Steve Welch at Northwest Mortgage Group, Inc. His direct number is
503-805-6810. Interest rates remain unbelievably low around 4%!

About Me

A local resident for over 40 years, Darin is at home in Portland. He has worked full-time as a Broker since 2005 and is dedicated to being a resource to his clients. He is a graduate from Portland State University with a Business Degree in Finance, so numbers come natural to him. If you'd like to know what your house is worth - Call him! He began his professional career as a financial analyst for the City of Portland and worked progressively with Portland’s water utility for 17 years.

After a long career with the City, Darin’s restless nature led him to a successful 12 year career in real estate. He bought his first home in 1993 in SE Portland at 43rd & Clinton – just a short walk from the Portland Digs’ office.

Undoubtedly, you’ll feel his love of the business and experience comforting. Darin works hard for his clients and is available to help first-time home buyers, investors, and long-time homeowners looking to move.

When he’s not working, Darin spends time on a motorcycle, or on the Columbia River windsurfing.